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News Details

Force Motors Q2 net profit down 77.09% at Rs 3.73 cr

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15/11/2021 14:50
The company reported standalone net profit of Rs 3.73 crore for the quarter ended September 30, 2021 as compared to Rs 16.28 crore in the same period last year, registering a year-on-year decline of 77.09 per cent.

Net revenue of the company rose substantially by 35.01 per cent at Rs 937.64 crore in July-September quarter of this fiscal as against Rs 694.49 crore in the corresponding period last year.

During July-September quarter, operating expenses increased by 42.17 per cent to Rs 893.13 crore from Rs 628.23 crore in year ago period.

Other Income grew by 67.12 per cent at Rs 14.59 crore versus (Sep'20 Rs 8.73 crore).

Operating Profit slipped by 32.83 per cent to Rs 44.51 crore as against Rs 66.26 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 50.21 per cent in September quarter.

Interest grew by 14.30 per cent y-o-y to Rs 8.55 crore, while Taxation decreased by 58.98 per cent at Rs 2.10 crore (Sep'20 Rs 5.12 crore).